UK Diesel Prices Expected to Reach Record Highs Amid Global Energy Crisis

The global energy crisis is affecting households and businesses across Britain as diesel prices are expected to reach record highs within days. The average price of diesel has climbed by 54% to 196.28p a litre since the Middle East crisis began in late February, with some forecourts already charging above £2 a litre.

Jon Barden, a former humanitarian adviser turned handyman, says his fuel costs have doubled and he's had to put up prices for services due to the rising cost of diesel. He notes that 'almost everything on supermarket shelves got there on a lorry' and when diesel goes up, it has nowhere to go but onto the price of goods.

The shortage is not a lack of crude oil, but rather a shortage of refining capacity. The Middle East crisis has severely damaged many refineries in the region, which once supplied 10% of the world's fuels. Output from Russia's war-damaged refineries has fallen by almost a third over the past year to reach a 20-year low.

According to Luke Bosdet, the AA spokesperson on fuel prices, diesel is 'the workhorse fuel that powers business, haulage, deliveries and rural communities'. Increased fuel costs are passed on to customers, then onto consumers, adding to inflation.